I initially got this to use as a day hiking pack. While 34L is a bit on the large side for a day pack, I figured the pack is so light it wouldn't matter if i carried a pack with more capacity. This pack is ultralight and serves as a great day pack or ultralight overnighter. It is essentially a scaled down version of the 58L. There are 2 sets of side compression straps which really allow you to cinch the pack down if you need to. The pack is virtually weightless and the back panel provides nice air flow when you're on the move.
One thing I would note, the straps are thin around the whole pack and the hip belts don't have any padding. This is how they were able to shave weight. But the hip belt pockets are a great feature and if you are packing gear that requires stronger straps than the Exos, you're probably using the wrong pack to begin with.
As a note, I have the Talon 22 for a day pack also and that is a great pack, and I have the Atmos 65 for backpacking. All are similar packs in many ways and I would highly recommend them to anybody. Just be cognizant of how much space (liters) you will need.